August 25, 2026 11:54 AM
UPI at 10: How India’s homegrown payment system transformed the way the country transacts
In a decade, the Unified Payments Interface (UPI) has moved from being a new digital payment mechanism to becoming an integral part of everyday life in India. From small-value payments at neighbourhood shops to bank transfers and cross-border transactions, UPI has fundamentally changed the country's digital payments landscape. Developed by the National Payments Corporation of India (NPCI), UPI was conceived as an interoperable, simple and secure platform that could bring multiple banking servic...